Neglected Risks, Financial Innovation, and Financial Fragility

Nicola Gennaioli, Andrei Shleifer, Robert W. Vishny

NBER Working Paper No. 16068
Issued in June 2010

---- Acknowledgements -----

We are grateful to Pedro Bordalo, Robin Greenwood, Sam Hanson, Anil Kashyap, Brock Mendel, Vladimir Mukharlyamov, Adriano Rampini, Michael Rashes, Joshua Schwartzstein, Jeremy Stein, seminar participants at the Harvard Business School, NBER, Stern School, and ChicagoBooth, as well as the editor and two referees for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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